iGaming Business – Swedish gaming operator Cherry has cited the success of its online gaming division as the driver of a jump in revenue over the six months through to June 30, 2014.
Group turnover for the first half of 2014 amounted to SEK149.4 million (€16.3 million/$21.5 million),a 23% rise on the SEK121.4 million achieved in the corresponding period last year.
Earnings before interest, tax, depreciation and amortisation (EBITDA) for the period amounted to a loss of SEK8.4 million, down from on the SEK8.9 million loss in the first half of 2013.
Elsewhere, earnings before interest and tax (EBIT) improved from a loss of SEK10.9 million last year to a negative of SEK7.7 million this year.
Cherry highlighted online gaming as the main reason for growth during the six months, after the division generated SEK79.7 million in revenue, up from SEK56.8 million last year.